Quarterly report pursuant to Section 13 or 15(d)

VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)

v3.20.2
VARIABLE INTEREST ENTITIES AND CONSOLIDATED REAL ESTATE NOT OWNED - Summary of Lots Under Option (Details)
$ in Thousands
Sep. 30, 2020
USD ($)
lot
Projected Number of Lots  
Purchase and option contracts recorded on balance sheet as Real estate not owned | lot 0
Option contracts — non-refundable deposits, committed | lot 8,740 [1]
Purchase contracts — non-refundable deposits, committed | lot 9,298 [1]
Purchase and option contracts —refundable deposits, committed | lot 2,208
Total committed | lot 20,246
Purchase and option contracts — refundable deposits, uncommitted | lot 15,059 [2]
Total lots under contract or option | lot 35,305
Total purchase and option contracts not recorded on balance sheet | lot 35,305 [3]
Purchase Price  
Purchase and option contracts recorded on balance sheet as Real estate not owned $ 0
Option contracts — non-refundable deposits, committed 469,067 [1]
Purchase contracts — non-refundable deposits, committed 336,146 [1]
Purchase and option contracts —refundable deposits, committed 59,719
Total committed 864,932
Purchase and option contracts — refundable deposits, uncommitted 432,573 [2]
Total lots under contract or option 1,297,505
Total purchase and option contracts not recorded on balance sheet 1,297,505 [3]
Option/ Earnest  Money Deposits–Cash  
Purchase and option contracts recorded on balance sheet as Real estate not owned 0
Option contracts — non-refundable deposits, committed 36,885 [1]
Purchase contracts — non-refundable deposits, committed 21,332 [1]
Purchase and option contracts —refundable deposits, committed 1,075
Total committed 59,292
Purchase and option contracts — refundable deposits, uncommitted 3,675 [2]
Total lots under contract or option 62,967
Total purchase and option contracts not recorded on balance sheet $ 62,967 [3],[4]
[1] Deposits are non-refundable except if certain contractual conditions are not performed by the selling party.
[2] Deposits are refundable at our sole discretion. We have not completed our acquisition evaluation process and we have not internally committed to purchase these lots.
[3] Except for our specific performance contracts recorded on our balance sheet as Real estate not owned (if any), none of our purchase or option contracts require us to purchase lots.
[4] Amount is reflected on our unaudited consolidated balance sheet in Deposits on real estate under option or contract as of September 30, 2020.